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S. Korea's real wage falls 1.5 pct in H1 amid high inflation

SEOUL
2023-08-31 13:59

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SEOUL, Aug. 31 (Xinhua) -- South Korea's real wage, adjusted for inflation, fell in the first half of this year due to high inflation, the Ministry of Employment and Labor said on Thursday.

The nominal monthly average wage per worker in businesses with one or more regular employees grew 2.4 percent from a year earlier to 3,938,000 won (2,980 U.S. dollars) for the first six months of this year, according to the ministry.

The real monthly wage shed 1.5 percent to 3,558,000 won (2,690 dollars) in the six-month period when the headline inflation advanced 4.0 percent.

Meanwhile, the monthly average working hours per worker in businesses increased 0.2 percent over the year to 156.9 hours in the first half.

The manufacturing industry recorded the longest working hours of 171.7, and the construction sector logged the shortest working hours of 129.3 in the cited period.
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